What Gives a Dollar Bill Its Value?
Money. We work for it. We buy things with it. We need it for retirement. But what is it, anyway? And what gives our money value?
The value of money is determined by how much (or how little) of it is in circulation. But who makes that decision, and how does their choice affect the economy at large? Doug Levinson takes a trip into the United States Federal Reserve, examining how the people who work there aim to balance the value of the dollar to prevent inflation or deflation.
SEE ALSO: Turning money into art
Lesson by Doug Levinson, animation by Qa’ed Mai.